The Impact of Digital Transformation on Enterprises: A Systematic Literature Review

Abstract

As digital transformation assumes an increasingly significant role in countries, industries, and companies, academics are growing interested in exploring its economic effects. The focus of this paper is to examine the current state and findings of research on digital transformation concerning enterprise operations, investment, and financing. By conducting a visual and bibliometric analysis of SSCI 1-2 articles published between 2018 and 2022, this paper identified influential articles, countries, words, and topics within this field. Subsequently, through a detailed review and summarisation of each article, it is evident that current research on the economic consequences of digital transformation predominantly centres around the operation of enterprises. However, there is a noticeable gap in research on digital transformation in financing and investment. This lacuna provides huge and promising areas for future research. This is the first review article that delves into the study of digital transformation from the above perspectives. This unique approach is poised to contribute to a deeper comprehension of digital transformation within corporate finance. Additionally, this article is a valuable resource for supporting corporate digital transformation and guides the formulation and implementation of policies to stimulate digital transformation. Furthermore, the paper suggests lots of future research directions in digital transformation.